Mumbai, 10 Sep 2024 (Commoditiescontrol): Moong prices saw an upward trend at major centers on Tuesday as rain disrupted arrivals, while steady buying activity ahead of the festival season lent additional support. However, prices declined in some southern markets as buying slowed at higher levels.
In recent weeks, moong prices have strengthened due to anticipation of higher demand and limited supply. Meanwhile, moong dal prices remained steady. In Madhya Pradesh, moong rates were largely stable except in Narsinghpur, where prices dropped by ₹275 per quintal. Key markets like Harda, Indore, and Pipriya showed no significant change, while Khirkiya mandi did not quote any prices. Slow demand for moong dal kept market participants cautious.
Rajasthan’s main markets remained stable, though Kishangarh mandi saw a price increase. In Delhi, higher buying from the Madhya Pradesh line pushed moong prices upwards.
Karnataka witnessed mixed trends, with markets like Gadag and Yadgir recording declines, while Bagalkot saw prices rise. The ongoing wet weather, especially with the nearing completion of the harvest in Central Karnataka, is likely to further impact arrivals. The India Meteorological Department (IMD) has issued heavy rain alerts for Maharashtra, Gujarat, Karnataka, and parts of Central India.
In Maharashtra, about 3,200 bags of moong arrived with moisture content ranging from 16-21%, and prices ranged between ₹6,800 and ₹8,700 per quintal, though buying remained sporadic.
Moong sowing for the Kharif season has improved by 4%, reaching 35.06 lakh hectares as of September 6, 2024. Despite the current price strength, the anticipated arrival of Kharif crops and upcoming auctions of around 385,000 tons by MARKFED may apply downward pressure on prices in the coming days.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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